Las Vegas, NV (August 18, 2017)
– KB Exchange Trust ("KB") announced the acquisition of two properties, a Fresenius Medical Care and a Walgreens, in the tri-state region of the New York metropolitan area. The Fresenius is a newly constructed property and the Walgreens was constructed in 2011, totaling a combined rentable space of approximately 25,000 square feet. The properties were acquired in separate transactions for a combined purchase price of $15.8 million.
“Both of these properties were acquired from sellers that we have long-standing business relationships with. Finding credit-tenant properties in New York metro-markets can be a difficult task, but we were able to leverage our relationships for the benefit of our investor clients,” said Jeff Pori, Managing Partner, Kingsbarn Realty Capital.
Publicly-traded on the New York Stock Exchange (NYSE: FMS), Fresenius Medical Care is the world's largest provider of dialysis services for chronic kidney diseases. Fresenius has a $31 billion market capitalization with over 110,000 employees and a network of over 3,600 dialysis clinics in North America, Europe, Latin America, Asia-Pacific, and Africa. The top provider of dialysis treatment in the world, Fresenius Medical Care is a Global Fortune 500® Company.
Founded in Chicago in 1901, Walgreens is the largest drugstore chain in the United States, with over 8,200 drugstores in all 50 states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands. In 2014, Walgreens was named to Fortune magazine’s World’s Most Admired Companies list for the 21st consecutive year, and was ranked 37th on the Fortune 500 list U.S. based companies. Prescription drugs account for about two-thirds of sales.
KB has acquired 31 healthcare-related properties within the past four years for its various 1031 exchange related programs.
“This portfolio represents our continued strategy of providing single-tenant, healthcare-related properties to our 1031 exchange investors that have long-term leases in place,” Pori added.
About Kingsbarn Realty Capital
Kingsbarn Realty Capital is a real estate private equity firm focused on acquiring commercial property assets throughout the United States. Offering both direct and indirect real estate investments, Kingsbarn provides clients with the opportunity to invest in its various structured real estate private placements. Kingsbarn's management team has extensive experience developing, managing, and sponsoring a diverse array of stabilized core properties and income-driven investment funds. Competitive, risk-adjusted returns are offered to Kingsbarn investors through diversified investment programs.
About KB Exchange Trust
KB Exchange Trust is a sponsor of DST-structured real estate investments, specializing in single-tenant, net-leased properties. The sponsor's experienced management team has purchased and closed over $2 billion of fractional ownership properties for its 1031 investor clientele.
KB Exchange Trust DST interests are securities as defined by the Securities and Exchange Act of 1934 and may be sold only to "accredited investors" who meet certain minimum annual income or net-worth thresholds. The securities are subject to legal restrictions on transfer and there is no market for resale. These securities are being offered in reliance on an exemption from registration, and neither the U.S. Securities and Exchange Commission nor any other regulatory authority has passed upon the merits of an investment in the securities or passed upon the adequacy or accuracy of the offering materials describing the securities. Investing in securities involves risk, and investors should be able to bear the loss of their investment.
Holly Silvestri, The Ferraro Group